229 Osage Ct · Lexington-Fayette, KY 40509

$139,900

3 bd · 1.5 ba · 1,620 sqft · Townhouse public records · 43 Days on market

Built 1971 1,398 sqft lot Est $259k · 46% under $92/mo HOA · 5% of rent

---

Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.9/10.0
• 1% rule +8.5/10.0
• Schools +3.4/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Motivated sellers ready to make a deal on this fantastic investment opportunity? This charming townhome is perfect for investors offering a great opportunity to step right into ownership with a steady income. Inside you'll love the beautiful wood flooring throughout the home, with tile in the bathrooms and kitchen. Enjoy a stylish walk-in shower, and step outside to your fenced patio that opens up to a peaceful green space; perfect of relaxing or playtime. The community features a playground and basketball court. Don't miss out on this great investment. Call today for you private tour.

Key facts

• Wood flooring
• Fenced patio
• Basketball court

Tags

• WOOD FLOORING
• FENCED PATIO
• PEACEFUL GREEN SPACE
• PLAYGROUND
• BASKETBALL COURT

Property features AI

Finance

• HOA & community: Community association with monthly fee

Exterior

• Parking: Off-street parking; Other parking
• Utilities: Public water; Public sewer; Electricity available; Sewer connected; Water available; Natural gas not available
• Home design: House; Three or more levels
• Construction: Brick veneer and vinyl siding exterior; Block foundation; Dimensional style roof; Built as a house (structure type)
• Exterior features: Wood fencing; Neighborhood view

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Range
• Bedrooms: 3 total rooms
• Flooring: Tile; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heat pump heating; Electric cooling; Heat pump cooling
• Interior features: Ceiling fans
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $140k.

Deal economics

• At list price, monthly cash flow is $429 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 3.8% in Lexington-Fayette — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Fayette County (urban): math 35% / reading 45% proficiency, ranked #27 of 165 in KY (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Madeline M Breckinridge Elem School (math 27% / reading 37%, grade F, #348 of 676 statewide, top 55%, 509 students, 78% FRL); Crawford Middle School (math 15% / reading 31%, grade F, #197 of 217 statewide, top 92%, 751 students, 68% FRL); Henry Clay High School (math 43% / reading 49%, grade D-, #20 of 254 statewide, top 8%, 2,031 students, 47% FRL) — zoned schools average 64% FRL vs 44% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.2%/yr); 279 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,036 units permitted in Fayette County in 2024 (542 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Fayette County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 23y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $135,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.35% ✓
• Cap rate: 9.98%
• Cash-on-cash: 13.16%
• DSCR: 1.59
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $259,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 Old Todds Rd #9106	0.35mi	3/2.5	1,559 (-4%)	4mo	$260,000	$167	70
209 Old Todds Rd #11102	0.35mi	3/2.5	1,559 (-4%)	4mo	$250,000	$160	70
209 Old Todds Rd #2108	0.35mi	3/2.5	1,557 (-4%)	6mo	$236,500	$152	68
209 Old Todds Rd #2102	0.35mi	3/2.5	1,699 (+5%)	5mo	$241,000	$142	68
209 Old Todds Rd #2107	0.35mi	3/2.5	1,557 (-4%)	9mo	$250,000	$161	66
209 Old Todds Rd #9104	0.35mi	3/2.5	1,559 (-4%)	10mo	$263,000	$169	65
209 Old Todds Rd #10105	0.35mi	3/2.5	1,559 (-4%)	10mo	$240,000	$154	65
209 Old Todds Rd #9103	0.35mi	3/2.5	1,559 (-4%)	11mo	$265,000	$170	64
209 Old Todds Rd #10106	0.35mi	3/2.5	1,575 (-3%)	14mo	$246,900	$157	63
209 Old Todds Rd #9105	0.35mi	3/2.5	1,559 (-4%)	14mo	$260,000	$167	62
209 Old Todds Rd #2105	0.35mi	3/2.5	1,699 (+5%)	12mo	$269,000	$158	62
209 Old Todds Rd #2103	0.35mi	3/2.5	1,699 (+5%)	14mo	$261,000	$154	60

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.22% rent growth · sell at horizon

5-year hold

• IRR: 2.2%
• Equity multiple: 1.08×
• Total profit: $3,302
• Equity at exit: $20,860

10-year hold

• IRR: 11.0%
• Equity multiple: 1.83×
• Total profit: $32,517
• Equity at exit: $12,096

Cash invested: $39,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Kentucky: 83 Strongly Landlord-Friendly · R+16
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit (URLTA cities); generally landlord-friendly.

Methodology + full state rankings →

ZIP-level market 40509

• Home prices YoY: -20.6%
• Rents YoY: 2.2%
• Active inventory: 279
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,884 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$92
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $429

Break-even live

Break-even rent $1,340

Max offer price $139,900

Occupancy floor 72%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
262 Osage Ct Unit 1 Lexington, KY	3.0	1.5	1080	$1,475	$1.37	23d	1	0.10mi
179 Hedgewood Ct Unit 1 Lexington, KY	3.0	1.5	1080	$1,375	$1.27	23d	1	0.16mi
308 Larkwood Dr Unit Z1 Lexington, KY	4.0	2.0	1361	$1,849	$1.36	13d	1	0.20mi
200 Alsab Ct Lexington, KY	2.0–3.0	1.5	940	$1,445	$1.54	23d	10	0.21mi
300 Quinton Ct Lexington, KY	1.0–3.0	1.0–2.0	927	$1,557	$1.68	13d	38	0.30mi
2334 Lake Park Rd Lexington, KY	1.0–2.0	1.0–2.0	837	$1,448	$1.73	13d	7	0.62mi
649 Hugging Bear Dr Lexington, KY	3.0	2.0	1253	$1,750	$1.40	21d	1	0.66mi
645 Declaration Ct Lexington, KY	3.0	2.5	1754	$2,045	$1.17	23d	1	0.66mi
2414 Lake Park Rd Lexington, KY	2.0–3.0	2.0	1352	$2,200	$1.63	13d	2	0.74mi
2414 Lake Park Rd Lexington, KY	1.0–3.0	1.0–2.0	1123	$2,200	$1.96	21d	3	0.74mi
2360 Liberty Rd Lexington, KY	3.0	2.0	1415	$1,895	$1.34	13d	1	0.79mi
2240 Kenwood Dr Lexington, KY	3.0	2.0	1264	$1,795	$1.42	13d	1	0.90mi
100 Lakeshore Dr Lexington, KY	1.0–3.0	1.0–2.0	925	$1,560	$1.69	13d	14	0.92mi
2561 Mackenzie Ln Lexington, KY	2.0	2.5	1250	$1,395	$1.12	13d	1	0.97mi
455 Patchen Dr Lexington, KY	3.0	2.5	1550	$1,695	$1.09	21d	1	1.00mi
2548 Danielle Ln Lexington, KY	2.0	2.0	1050	$1,200	$1.14	13d	1	1.01mi
2543 Danielle Ln Lexington, KY	3.0	2.0	1400	$1,600	$1.14	23d	1	1.02mi
201 Lakeshore Dr Unit 9 Lexington, KY	3.0	2.0	1185	$1,095	$0.92	21d	1	1.06mi
2035 Altamont Ct Unit A09 Lexington, KY	3.0	2.0	1150	$1,450	$1.26	13d	1	1.06mi
209 Lakeshore Dr Unit 9 Lexington, KY	3.0	2.0	1050	$1,145	$1.09	21d	1	1.06mi
531 Laketower Dr Unit 522 Lexington, KY	2.0	2.0	1367	$5,699	$4.17	23d	1	1.08mi
531 Laketower Dr Unit 502 Lexington, KY	2.0	2.0	1457	$5,499	$3.77	23d	1	1.08mi
531 Laketower Dr Unit 519 Lexington, KY	2.0	2.0	1441	$4,599	$3.19	23d	1	1.08mi
531 Laketower Dr Unit 511 Lexington, KY	2.0	2.5	1535	$5,099	$3.32	23d	1	1.08mi
531 Laketower Dr Unit 111 Lexington, KY	2.0	2.5	1535	$4,999	$3.26	23d	1	1.08mi
531 Laketower Dr Unit 411 Lexington, KY	2.0	2.5	1535	$4,599	$3.00	23d	1	1.08mi
531 Laketower Dr Unit 418 Lexington, KY	2.0	2.0	1175	$3,799	$3.23	23d	1	1.08mi
531 Laketower Dr Unit 308 Lexington, KY	2.0	2.0	1326	$3,699	$2.79	23d	1	1.08mi
531 Laketower Dr Unit 314 Lexington, KY	2.0	2.0	1147	$2,999	$2.61	13d	1	1.08mi
531 Laketower Dr Unit 316 Lexington, KY	2.0	2.0	1175	$3,199	$2.72	23d	1	1.08mi
531 Laketower Dr Unit 414 Lexington, KY	2.0	2.0	1147	$3,499	$3.05	23d	1	1.08mi
531 Laketower Dr Unit 518 Lexington, KY	2.0	2.0	1175	$4,299	$3.66	23d	1	1.08mi
531 Laketower Dr Unit 311 Lexington, KY	2.0	2.5	1535	$4,399	$2.87	23d	1	1.08mi
531 Laketower Dr Unit 506 Lexington, KY	2.0	2.0	1326	$4,699	$3.54	23d	1	1.08mi
495 Laketower Dr Unit 515-309 Lexington, KY	2.0	2.0	1254	$1,419	$1.13	23d	1	1.14mi
495 Laketower Dr Unit 479-312 Lexington, KY	2.0	2.0	1254	$1,459	$1.16	23d	1	1.14mi
495 Laketower Dr Unit 2120-211 Lexington, KY	3.0	2.0	1400	$1,739	$1.24	13d	1	1.14mi
495 Laketower Dr Unit 2120-302 Lexington, KY	3.0	2.0	1400	$1,759	$1.26	13d	1	1.14mi
495 Laketower Dr Unit 2120-304 Lexington, KY	2.0	2.0	1254	$1,549	$1.24	23d	1	1.14mi
495 Laketower Dr Unit 491-214 Lexington, KY	2.0	2.0	1254	$1,509	$1.20	23d	1	1.14mi

HOA detail

• Monthly dues: $92 · $1,104/yr

Listing history 42 events

1. 2026-06-18
   days on market $139,900 Active 43 DOM
2. 2026-06-17
   days on market $139,900 Active 42 DOM
3. 2026-06-16
   days on market $139,900 Active 41 DOM
4. 2026-06-15
   days on market $139,900 Active 40 DOM
5. 2026-06-14
   days on market $139,900 Active 38 DOM
6. 2026-06-13
   days on market $139,900 Active 37 DOM
7. 2026-06-10
   days on market $139,900 Active 35 DOM
8. 2026-06-09
   days on market $139,900 Active 34 DOM
9. 2026-06-08
   days on market $139,900 Active 33 DOM
10. 2026-06-07
    days on market $139,900 Active 32 DOM
11. 2026-06-05
    days on market $139,900 Active 29 DOM
12. 2026-06-03
    days on market $139,900 Active 28 DOM
13. 2026-06-02
    days on market $139,900 Active 27 DOM
14. 2026-06-01
    days on market $139,900 Active 26 DOM
15. 2026-05-31
    days on market $139,900 Active 25 DOM
16. 2026-05-06
    listed $139,900 Active
17. 2026-05-04
    price $139,900
18. 2026-05-04
    historical
19. 2026-03-16
    price $142,900
20. 2026-01-20
    price $144,900
21. 2025-11-04
    listed $147,000 Active
22. 2025-10-27
    historical
23. 2025-10-12
    price $155,000
24. 2025-09-23
    price $160,000
25. 2025-08-02
    listed $165,000 Active
26. 2023-07-17
    soldstatus $152,000
27. 2023-07-10
    soldstatus $152,000 Closed
28. 2023-05-25
    status Pending
29. 2023-03-24
    listed $158,500 Active
30. 2019-10-28
    soldstatus $1,605,905
31. 2018-07-03
    soldstatus $3,703,040
32. 2016-12-22
    soldstatus $35,000
33. 2015-10-16
    soldstatus $30,000
34. 2015-10-15
    soldstatus $30,000 Sold
35. 2015-10-03
    status Pending
36. 2015-09-15
    listed $37,000 Active
37. 2013-06-28
    soldstatus $21,500
38. 2013-06-12
    historical
39. 2013-04-22
    listed $24,900
40. 2004-01-22
    soldstatus $38,462
41. 2003-09-12
    listed $38,462
42. 2003-09-12
    historical

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,607
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$1,809
• − Management: −$1,809
• − HOA: −$1,104
• − Depreciation: −$4,070
• Taxable income: $3,182
• Est. tax owed @ 24.0%: −$764
• After-tax cash flow: $4,390/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Fayette County
• NCES district ID: 2101860
• Math proficiency: 35% ▼ -16.00%
• Reading proficiency: 45% ▼ -13.00%
• Median HH income: $49,245
• Composite: 34.38/100
• National rank: #5211
• State rank: #27 of 165 in KY

Livability — Lexington-Fayette

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Lexington-Fayette, KY
• County: Fayette County · 317,143 people
• City population: 321,882
• Metro: Lexington-Fayette, KY
• Population (ZIP): 47,036
• Household income: $94,804
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 1763.0

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 363,454 people
• By 2030: 388,270 · +6.8%
• By 2040: 438,688 · +20.7%
• By 2050: 490,667 · +35.0%
• By 2075: 625,394 · +72.1%
• By 2100: 721,354 · +98.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 14% Two or more races 8% Asian 7% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 2% Slovak 2% Romanian 2%
• Foreign-born: 12% · Canada, China
• Languages at home: 84% English-only · Spanish 6% Other Indo-European 3% Other Asian/Pacific 2%

Political lean MEDSL · Fayette

• 2024 margin: D (+18.1) · D 58.0% · R 39.9% · Other 2.1%
• 2008→2024 swing: +13.3pp toward D · 2008: 4.8pp · 2024: 18.1pp
• All cycles: 2024: D+18.1 2020: D+20.8 2016: D+9.5 2012: D+1.0 2008: D+4.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.72%
• Current HPI: 226.8663
• Rent YoY: ▲ 2.22%
• Metro: Lexington-Fayette, KY
• State GDP YoY: ▲ 1.81%
• F500 in state: 4

Industry mix (Fortune 500 HQ in KY)

Industry	F500 HQs	Revenue
▸Healthcare	1	$118B
▸Food / Beverage	1	$7B

Price history

+263.7% since first listed

27 events — show timeline

• 2026-05-06 Listed $139,900 ImagineMLS
• 2026-05-04 Price Changed $139,900 ImagineMLS
• 2026-05-04 Listing Removed — ImagineMLS
• 2026-03-16 Price Changed $142,900 ImagineMLS
• 2026-01-20 Price Changed $144,900 ImagineMLS
• 2025-11-04 Listed $147,000 ImagineMLS
• 2025-10-27 Listing Removed — ImagineMLS
• 2025-10-12 Price Changed $155,000 ImagineMLS
• 2025-09-23 Price Changed $160,000 ImagineMLS
• 2025-08-02 Listed $165,000 ImagineMLS
• 2023-07-17 Sold (Public Records) $152,000 Public Records
• 2023-07-10 Sold (MLS) $152,000 ImagineMLS
• 2023-05-25 Pending — ImagineMLS
• 2023-03-24 Listed $158,500 ImagineMLS
• 2019-10-28 Sold (Public Records) $1,605,905 Public Records
• 2018-07-03 Sold (Public Records) $3,703,040 Public Records
• 2016-12-22 Sold (Public Records) $35,000 Public Records
• 2015-10-16 Sold (Public Records) $30,000 Public Records
• 2015-10-15 Sold (MLS) $30,000 ImagineMLS
• 2015-10-03 Pending — ImagineMLS
• 2015-09-15 Listed $37,000 ImagineMLS
• 2013-06-28 Sold (MLS) $21,500 ImagineMLS
• 2013-06-12 Listing Removed — ImagineMLS
• 2013-04-22 Listed $24,900 ImagineMLS
• 2004-01-22 Sold (MLS) $38,462 ImagineMLS
• 2003-09-12 Listing Removed — ImagineMLS
• 2003-09-12 Listed $38,462 ImagineMLS

Property tax history

+1.8%/yr

Latest (2015): $260 · +1.8% YoY. Source: county tax records.